TTR.L Regulatory News (TTR)

32Red Plc

("32Red" or "the Company")

Strong first half, momentum continuing into H2

Trading Update 

32Red Plc, the award-winning remote gaming operator, today provides an update on trading for the six months ended 30 June 2015. 

First Half 2015 Summary 

The Company continues to trade strongly with total Net Gaming Revenue up 22% to £18.6m (2014: £15.2m) in the first six months of 2015.

Underlying Performance

Strong top line growth in the underlying business continues to be driven by increased player activity levels at the flagship 32Red Casino and it is particularly pleasing that player yields remain strong despite increased new player recruitment:

· Active Casino customers of 62,214 up 22% on H1 14

· Casino player yield £380 (H1 14: £400)

· New Casino players 26,407, up 12% on H1 14 

· Casino player cost per acquisition: £197 (H1 14: £180)

· Mobile represents 42% of total Casino GGR (H1 14: 32%)

32Red.it

NGR from the 32Red Italian Casino is up 67% to £0.9m (H1 14: £0.5m). A total of 4,285 new players were recruited in the first half (H1 14: 3,084) bringing the total number of active players to 8,443 (H1 14: 5,793). The Company continues to invest in marketing to grow market share in this recently regulated market and will look to add additional gaming products later in the year.

Outlook for the Full Year and Current Trading

Trading momentum has continued since the period end, with Gross Gaming Revenue for the twenty days to 20 July up 35% on the corresponding period in 2014 (excluding the contribution from the recently acquired Roxy Palace casino). The Company confirms that trading remains comfortably in line with the board's full year expectations.

Commenting on the performance, Ed Ware, CEO of 32Red, said:

"Our continued focus on customer service, combined with increased marketing expenditure and cross sell from supporting products has driven double digit organic revenue growth in the 32Red casino in the half year.

"We recently announced the acquisition of the Roxy Palace business and I am delighted with initial trading and the integration progress. The combination of this earnings enhancing acquisition allied with our strong organic growth provides a strong platform for continued growth and we look forward to the future with confidence."

The Group will announce its interim results on Thursday, 24 September 2015.

22 July 2015

Enquiries: